UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) June 8, 2016

 

Target Corporation

(Exact name of registrant as specified in its charter)

 

Minnesota

 

1-6049

 

41-0215170

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification Shares)

 

1000 Nicollet Mall, Minneapolis, Minnesota 55403

(Address of principal executive offices, including zip code)

 

(612) 304-6073

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 5.07.                                        Submission of Matters to a Vote of Shareholders.

 

On June 8, 2016, Target Corporation (the “Company”) held its 2016 Annual Meeting of Shareholders (the “Annual Meeting”) to:  (1) elect directors for a one-year term; (2) ratify the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm; (3) approve, on an advisory basis, the Company’s executive compensation; and (4) vote on a shareholder proposal to report on criteria for selecting countries for operations.

 

At the close of business on April 11, 2016, the record date of the Annual Meeting, the Company had 595,968,818 shares of common stock issued and outstanding.  The holders of a total of 536,449,533 shares of common stock were present at the Annual Meeting, either in person or by proxy, which total constituted a majority of the issued and outstanding shares on the record date for the Annual Meeting.

 

The final voting results and the votes used to determine the results for each proposal under the voting approval standard disclosed in the 2016 Proxy Statement (as indicated by the borders) are set forth below:

 

1.                                      The shareholders elected each of the following nominees as directors for a one-year term:

 

 

 

 

For

 

Against

 

 

 

 

Broker

 

Nominee

 

 

Shares

 

%

 

Shares

 

%

 

 

Abstain

 

Non-Votes

 

Roxanne S. Austin

 

 

462,895,895

 

98.4%

 

7,465,347

 

1.6%

 

 

1,648,356

 

64,439,935

 

Douglas M. Baker, Jr.

 

 

449,290,801

 

95.6%

 

20,768,752

 

4.4%

 

 

1,950,045

 

64,439,935

 

Brian C. Cornell

 

 

446,677,705

 

95.8%

 

19,680,679

 

4.2%

 

 

5,651,214

 

64,439,935

 

Calvin Darden

 

 

462,932,157

 

98.5%

 

7,043,379

 

1.5%

 

 

2,034,062

 

64,439,935

 

Henrique De Castro

 

 

466,417,094

 

99.2%

 

3,620,461

 

0.8%

 

 

1,972,043

 

64,439,935

 

Robert L. Edwards

 

 

467,261,035

 

99.4%

 

2,824,813

 

0.6%

 

 

1,923,750

 

64,439,935

 

Melanie L. Healey

 

 

467,316,274

 

99.4%

 

2,741,500

 

0.6%

 

 

1,951,824

 

64,439,935

 

Donald R. Knauss

 

 

466,959,668

 

99.4%

 

2,900,507

 

0.6%

 

 

2,149,423

 

64,439,935

 

Monica C. Lozano

 

 

467,179,313

 

99.4%

 

2,939,186

 

0.6%

 

 

1,891,099

 

64,439,935

 

Mary E. Minnick

 

 

463,481,251

 

98.6%

 

6,678,245

 

1.4%

 

 

1,850,102

 

64,439,935

 

Anne M. Mulcahy

 

 

450,000,549

 

95.7%

 

20,277,601

 

4.3%

 

 

1,731,448

 

64,439,935

 

Derica W. Rice

 

 

466,996,918

 

99.3%

 

3,175,003

 

0.7%

 

 

1,837,677

 

64,439,935

 

Kenneth L. Salazar

 

 

463,820,019

 

98.7%

 

6,290,810

 

1.3%

 

 

1,898,769

 

64,439,935

 

John G. Stumpf

 

 

449,477,027

 

95.6%

 

20,536,384

 

4.4%

 

 

1,996,187

 

64,439,935

 

 

2.                                      The shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for fiscal 2016:

 

For:

 

Shares

 

526,961,791

 

 

%

 

98.2

Against:

 

Shares

 

7,850,488

 

 

%

 

1.5

Abstain:

 

Shares

 

1,637,254

 

 

%

 

0.3

 

2



 

3.                                      The shareholders approved, on an advisory basis, the Company’s executive compensation:

 

For:

 

Shares

 

450,727,433

 

 

%

 

96.4

Against:

 

Shares

 

17,011,422

 

 

%

 

3.6

Abstain:

 

Shares

 

4,270,743

Broker Non-Votes:

 

Shares

 

64,439,935

 

4.                                      The shareholders did not approve a shareholder proposal to report on criteria for selecting countries for operations:

 

For:

 

Shares

 

14,873,032

 

 

%

 

3.2

Against:

 

Shares

 

371,602,078

 

 

%

 

78.7

Abstain:

 

Shares

 

85,534,488

 

 

%

 

18.1

Broker Non-Votes:

 

Shares

 

64,439,935

 

For purposes of determining the level of support needed for a shareholder to be eligible to resubmit a shareholder proposal in a following year under Rule 14a-8 under the Securities Exchange Act of 1934, the SEC uses a simple majority standard that compares votes cast “FOR” to votes cast “AGAINST” an item (which gives abstentions “No Effect”). Under that simple majority standard Item 4 received support of 3.8%.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

TARGET CORPORATION

 

 

 

 

Date:  June 8, 2016

/s/ Timothy R. Baer

 

Timothy R. Baer

 

Executive Vice President, Chief Legal Officer

 

and Corporate Secretary

 

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